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The frisk-free rate of interest is 9% per annum with continuous compounding, and the dividend yield on a stock index is 3.2% per annum. The

  1. The frisk-free rate of interest is 9% per annum with continuous compounding, and the dividend yield on a stock index is 3.2% per annum. The current value of the index is 150. What is the 18-month futures price?

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